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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
315131	Panhandle Oil & Gas Inc	PHX	Crude Petroleum & Natural Gas (1311)	731055775

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1105838	Robert Robotti	6 East 43Rd Street 23Rd Floor New York NY 10017		Yes	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock, $0.0166 Par Value	Disposition	2014-09-23	9,796	$60.81	410,918	No	4	S	Indirect	See Footnote
Class A Common Stock, $0.0166 Par Value	Disposition	2014-09-23	6,004	$60.81	410,918	No	4	S	Indirect	See Footnote
Class A Common Stock, $0.0166 Par Value	Disposition	2014-09-24	10,478	$60.94	410,918	No	4	S	Indirect	See Footnote
Class A Common Stock, $0.0166 Par Value	Disposition	2014-09-24	6,422	$60.94	410,918	No	4	S	Indirect	See Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	See Footnote
No	4	S	Indirect	See Footnote
No	4	S	Indirect	See Footnote
No	4	S	Indirect	See Footnote

Footnotes

This amount includes 18,740 shares of the Common Stock directly beneficially owned by Robotti & Company, Incorporated ("ROBT"), 1,000 shares of the Common Stock directly beneficially owned by Robotti & Company, LLC ("Robotti & Company"), 224,639 shares of the Common Stock directly beneficially owned by The Ravenswood Investment Company, LP ("RIC"), 136,721 shares of the Common Stock directly beneficially owned by Ravenswood Investments III, L.P. ("RI"), 18,000 shares of the Common Stock directly beneficially owned by Suzanne Robotti ("Su Robotti"), wife of Robert Robotti, and 11,818 shares of the Common Stock directly beneficially owned by Robert Robotti (following disposition of all shares reported herein).
Mr. Robotti may be deemed to beneficially own (solely for the purpose of Rule 16a-1(a)(2) under the Securities Exchange Act of 1934, as amended ("Exchange Act")) certain of the shares of Common Stock set forth in this Form 4 through his proportionate ownership of ROBT and Robotti & Company, as a managing member of Ravenswood Management Company, LLC, which serves as the general partner of RIC and RI and through his marriage to Su Robotti. Mr. Robotti disclaims beneficial ownership of all securities reported herein except to the extent of his pecuniary interest therein, if any.